Bank of New York Mellon Corp lessened its holdings in Fortive Corporation (NYSE:FTV) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,785,564 shares of the technology company’s stock after selling 119,561 shares during the quarter. Bank of New York Mellon Corp owned 1.09% of Fortive Corporation worth $267,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Fortive Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock valued at $1,305,909,000 after acquiring an additional 620,784 shares during the period. BlackRock Inc. increased its position in shares of Fortive Corporation by 11.7% in the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after acquiring an additional 1,934,309 shares during the period. Capital World Investors increased its position in shares of Fortive Corporation by 37.9% in the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after acquiring an additional 2,701,496 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Fortive Corporation by 41.2% in the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after acquiring an additional 971,997 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Fortive Corporation by 64,460.2% in the second quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock valued at $167,275,000 after acquiring an additional 2,636,422 shares during the period. Institutional investors own 79.13% of the company’s stock.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus restated a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Royal Bank Of Canada restated a “hold” rating and issued a $66.00 price objective on shares of Fortive Corporation in a research report on Friday, September 15th. Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. BMO Capital Markets assumed coverage on shares of Fortive Corporation in a research report on Wednesday. They issued an “outperform” rating and a $82.00 price objective on the stock. Finally, Citigroup Inc. restated a “neutral” rating and issued a $72.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a research report on Monday, October 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Fortive Corporation has a consensus rating of “Buy” and an average target price of $70.27.

In related news, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the sale, the insider now owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

Shares of Fortive Corporation (NYSE:FTV) traded down $0.19 during midday trading on Friday, hitting $72.25. 2,950,000 shares of the company traded hands, compared to its average volume of 1,190,000. Fortive Corporation has a one year low of $52.99 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. The stock has a market capitalization of $25,050.00 and a PE ratio of 26.33.

Fortive Corporation (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Fortive Corporation’s quarterly revenue was up 7.4% on a year-over-year basis. equities analysts anticipate that Fortive Corporation will post 2.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s payout ratio is currently 10.57%.

ILLEGAL ACTIVITY WARNING: “Bank of New York Mellon Corp Has $267.98 Million Position in Fortive Corporation (FTV)” was first reported by Daily Political and is owned by of Daily Political. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/11/18/bank-of-new-york-mellon-corp-has-267-98-million-position-in-fortive-corporation-ftv.html.

About Fortive Corporation

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

Receive News & Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related companies with MarketBeat.com's FREE daily email newsletter.